Can I set up direct deposit for an IRA?

Let me elaborate on some information when using multiple accounts for direct deposit, Docs.

Yes, you can set up direct deposit for split or multiple accounts.  But for now, direct deposit is only for paying employees and not for IRA. As a workaround, you can manually create two (2) checks with different accounts and make the payment for your contribution outside QuickBooks Online (QBO).

You may want to know how to set up a retirement plan deduction or company contribution so you can track and tax it appropriately at the same time. Check out this article for your guide: Set Up Or Change A Retirement Plan.

Furthermore, QuickBooks provides different kinds of reports so you can take a closer look at our business finances and view useful business and employee information. To know more, go through this article for more details: Run Payroll Reports.

Reach out to us if you have any concerns when using direct deposit. Remember, the Community is here to assist all your needs. Have a nice day!